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Revised August 4, 2008

Contracts. Revised August 4, 2008. What is a Contract?. A contract is…… --An enforceable agreement between two parties --An agreement in which each party agrees to give up something in exchange for something else

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Revised August 4, 2008

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  1. Contracts Revised August 4, 2008

  2. What is a Contract? A contract is…… --An enforceable agreement between two parties --An agreement in which each party agrees to give up something in exchange for something else --Legally binding and can be settled in a court of law

  3. Typical Contract Provisions • Duties and obligations of the parties • Representations and warranties • Termination Clauses • Assignment Clauses • Acts of God • Indemnity and Damages • Insurance • Choice of Law • Venue

  4. SAMPLE WFISD CONTRACTS • Software licensing agreements • Professional engineering agreements • Rental agreements • Consultant agreements • Maintenance agreements

  5. CONTRACT ACTION FORM(CAF)

  6. SIGNATURE AUTHORITY

  7. Vendor Signatures After CAF is completed and two copies of contracts are executed by appropriate WFISD employee, originator is responsible for obtaining signatures from vendor.

  8. Contract Routing One original fully executed contract should be kept by vendor, one original fully executed contract should be forwarded to Legal Services.

  9. Additional Contract Routing Copies of contracts should be retained by originator and provided to other employees “deemed necessary”.

  10. Purchase Orders with Vendor Contracts • Purchase Orders should be issued at the time the contracts are executed • Services – including services purchased through Student Activity Funds • Band consultants • Color Guard trainers • Athletic trainers • Reason: • Gives better control over your budget • 1099s should be issued for many services • This shifts the burden of the 1099 to the Finance department and away from your campus

  11. New TEA Account Codes and definitions for Services • 6219 – Professional Services • New definition • required to be licensed/registered with the state • Fee basis for specialized services • Normally in areas that supplement the expertise of the school district • Examples: • Architecture Optometry • Professional Engineering Medicine • Accounting Professional Nursing

  12. New TEA Account Codes and definitions for Services (cont’d) • 6291 – Consulting Services • Definition • Practice of improving performance through analysis of existing problems and development of future plans • May involve: • identification of best practices • analytical techniques • change management and coaching skills • technology implementations • strategy development • operational improvement • Consultants rely on their “outsider’s” perspective to provide unbiased recommendations • They bring formal frameworks or methodologies to identify problems or suggest more effective/efficient ways of performing tasks • Cover all functional areas: • Instruction – • Curriculum • Administration

  13. New TEA Account Codes and definitions for Services (cont’d) • 6299 – Miscellaneous contracted services not specified elsewhere • Outside presenters for staff development trainings

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